In order to create current and
updated data concerning the trucking
company truck lease options, I began the owner operator lease purchase
program survey on November 9th, 2009.

This
survey was conducted by Truth About Trucking, LLC
over an
approximate 15 month period and through information and answers
provided by 3,611 respondents.

Although
there are company lease drivers who have done well with these lease
programs, the majority of these trucking company lease purchase
programs are designed
for the driver to fail.
The 87% failure rate study was reported several years ago by an
independent accountant but I wanted to bring this issue to an updated
level, thus the reason for this survey.

After
five months of analyzing the data received from the responses, this
report provides a current, up-to-date analysis on the motor
carrier truck lease
purchase options that continues to be one of the major
public
consumer abuses within the long-haul trucking industry.

"As I
was pulling out of the parking lot., the clutch went out. No
Joke!"

Positive:

"Haven't had any problems with
my truck yet and I've had it for about 3-4 months.."

"Minor problems to be expected.
Just turning 490,000 miles after 20 months in truck.."

"No mechanical problems yet, in
my 6th month."

Question
(10)

Based
on your experience, what is your overall view on these “No
Money
Down – No Credit Check” Owner Operator Company
Lease Purchase
Programs?

Results:

6% - Good

13% - Fair

9% - Poor

72% - Scam

Driver comments from survey:

Negative:

"They are
one-sided. Only designed for company profit. You are just a
glorified company driver. Company does not care whether you
make a profit or complete the lease. They will just pass it
on to the next sucker."

"It would be good
if you could bring home a pay check."

"Well, it is the
only way I can do it. I have no money and my credit is fair
which I am trying to improve, so this program is good for people like
me with no money and no credit."

"Most is a way for
the trucking companies to get cheap labor, while they clean up at the
drivers' expense."

"A good choice for
the companies. The credit report rating does not hurt the
companies rating, just the driver's. So the company has no
incentive to help the driver succeed. The company will just
resell the truck to another unsuspecting driver."

"The company makes
a ton of dough with all their charges and if I max my miles in a week,
I can almost equal a company driver."

"Awful.
A lot of promises but we are sinking fast. Barely
making enough to cover lease."

"I did not know
that the miles would STOP once they got what they needed to stay
current on their payment."

"Designed for
failure."

"It's a way to put
drivers in the seat of a truck they own and not have to pay out any
benefits, social security or workers comp. All you are is a
cheap driver for them. Cheap labor."

"Better get the
Government involved."

"Free labor."

"This
is NOT the way to be profitable in trucking."

Positive:

"Good as long as you get in
with the right company who doesn't mess with your truck and leave their
hands off from it.."

"You need some kind of
investment."

"The one I am in is the only
one I know of that is honest. I just lucked out and hooked up
with a decent company, which is extremely rare."

"It is all right if you don't
have good credit."

"If properly done, they are not
a bad deal. It all depends on the company you lease on with."

"It's what you make of it and
the research you do. Knowledge and the understanding that it's a
big commitment. A lot of people in this company fail just for
that they try to live paycheck to paycheck and don't understand that it
must be looked at as a monthly or even quarterly deal as to how much
profit is made. This can be hard for some people, almost
impossible to do financially, but it's a reality if you want to be
successful."

"Takes a lot of self
discipline."

"Look very close at what your
buying. Get your own mechanic's advise on the truck."

"It works if you work.
Can't sit around and expect to be home every weekend."

"Not for everyone. I am
one of the very few that has completed it with my company. If not
for prior experience being an owner operator, I would have failed
miserably."

"A good opportunity if you can
get the miles needed to make a profit. Dispatch can be a major
factor. Also, expenses can destroy you if you have a large bill
that the company loan you the money for."